Visisth Mercantile Ltd has informed that the Board of Directors of the Company at its meeting held on May 15, 2009, inter alia, has passed the following resolution:
- Allotment of 14,41,790 Equity Shares by conversion of Convertible Warrants into equity shares of Rs 10/- each issued at a premium of Rs 15/- each pursuant to Section 81(1A) of the Companies Act, 1956 and as per the Guidelines issued by Securities and Exchange Board of India (SEBI) on preferential allotment basis with the resolution passed by the members at their Annual General Meeting held on July 28, 2008 as follows:
- 691,790 Equity Shares on conversion of Warrants issued to Promoters and
- 750,000 Equity Shares on conversion of Warrants to Other Investors (Non Promoters).
- Allotment of 14,41,790 Equity Shares by conversion of Convertible Warrants into equity shares of Rs 10/- each issued at a premium of Rs 15/- each pursuant to Section 81(1A) of the Companies Act, 1956 and as per the Guidelines issued by Securities and Exchange Board of India (SEBI) on preferential allotment basis with the resolution passed by the members at their Annual General Meeting held on July 28, 2008 as follows:
- 691,790 Equity Shares on conversion of Warrants issued to Promoters and
- 750,000 Equity Shares on conversion of Warrants to Other Investors (Non Promoters).
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